Fibrocell Science Inc. closed a previously announced direct offering of common stock, as well as a private placement of unregistered warrants.
Under the offering, the Exton, Pa.-based biotechnology company sold 2,038,224 common shares at $2.85 each, for gross proceeds of about $5.8 million.
Under the placement, Fibrocell issued warrants to buy 1,528,668 common shares, at 12.5 cents per warrant, for gross proceeds of about $200,000. The warrants' exercise price is $2.86 per share and are valid for 5.5 years from date of issue.
Net proceeds will go toward the clinical and preclinical development of the company's product candidates, FCX-007 and FCX-013, and for other general corporate purposes.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
